Goldman: Another Month of Hormuz Closure Means Over $100 Brent Throughout 2026

Brent Crude is expected to average above $100 per barrel this year if the Strait of Hormuz remains mostly shut to tanker traffic for another month, Goldman Sachs analysts said on Thursday. “We continue to see the risks to our price forecast as skewed to the upside,” the U.S. investment bank said in a note carried by Bloomberg after the U.S. and Iran announced a two-week ceasefire on Tuesday night. Goldman cut its price expectations for crude oil late on Wednesday following the news of a ceasefire deal between Iran and the United States.…